Hey everyone,
I'm currently a sophomore in college studying engineering and have been thinking about leasing a G37 for some time now there's just a few questions that I need to get answered. Will I be able to lease the car under my name even if I have to have my parents cosign for me (I really want to do this so i can start building my credit.) and most importantly, if I am able to lease the car, will it affect the financial aid I'm receiving from school?

I make about 12K a year with no major bills.

 

leasing a car is not a job. It will not affect your financial aide. Financial aide is based on income (money you make, not money you spend).

 

I'm a freshman in college and I had the same question, about having the car in my name with parents co-signing so that I could build credit. Any takers?

 

Yes, having the car in your name even with cosigners will build positive credit if you pay on time consistently. It will not negatively affect your financial aid.

 

Did you take insurance into account in addition to the monthly payments on the car? if you're only making 12k a year, the car pymt + insurance + gas + maintenance will eat up a decent chunk of that check.

Well to answer your other question, no it wont affect your financial aid at all, just like the other guy said, its what you make, not what you spend. And yes, it will help build credit, although at your age you will almost indefinately need a co-signer. Good luck with it, the G is awesome!!

 

If you're within six month of graduating, Infiniti has a Graduate Program that could help you a little bit, but $12k annual income might not help since it means you gross $1k per month. With half of your income going to car, banks might rate you differently (depending on what's on your credit bureau). You just might be on too much car and have to lower your sights a bit for now.

 

Yes, you can still have it under your name with your parents co-signing, your payments will be more but it will allow you to build up your credit since your name will be the first one on the lease agreement. You're income will definitely not qualify you for this car, so if you really do want it want it, you're going to need your parents.

 

Thanks for the replies guys, I'm definitely getting help from my parents. I wouldn't even entertain the idea of leasing a car like this if I didn't have help from them. Because of my youth and credit standing, how much higher of a money factor can i expect to get?

 

I'd expect Tier 2, however it's never a simple answer with financing sadly. The bank needs to see the whole deal; how much car, how much down, any trades (potentially negative equity), term, income to debt, time at work, etc. to determine if combined you could get Tier 1.

 

I'm doing the same thing, except my parents just gave me the money to lease it myself.